Guidewire Software (NYSE:GWRE) Sets New 12-Month High at $171.95

Guidewire Software, Inc. (NYSE:GWRE) shares hit a new 52-week high during trading on Friday . The stock traded as high as $171.95 and last traded at $171.81, with a volume of 732137 shares. The stock had previously closed at $169.80.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GWRE. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday, September 6th. Citigroup raised their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Robert W. Baird boosted their price objective on shares of Guidewire Software from $152.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their target price on shares of Guidewire Software from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Oppenheimer upped their target price on Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Guidewire Software has a consensus rating of “Moderate Buy” and an average target price of $161.69.

Guidewire Software Trading Up 1.2 %

The company has a market cap of $14.20 billion, a price-to-earnings ratio of -1,321.51 and a beta of 1.18. The stock has a 50-day simple moving average of $147.64 and a 200-day simple moving average of $129.85.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, research analysts expect that Guidewire Software, Inc. will post 0.49 EPS for the current fiscal year.

Insider Activity

In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.12, for a total transaction of $187,812.00. Following the sale, the insider now owns 139,171 shares of the company’s stock, valued at $19,361,469.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $139.12, for a total transaction of $187,812.00. Following the transaction, the insider now directly owns 139,171 shares of the company’s stock, valued at $19,361,469.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 3,017 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $405,907.18. Following the completion of the sale, the chief financial officer now directly owns 63,479 shares of the company’s stock, valued at $8,540,464.66. The disclosure for this sale can be found here. Insiders sold 13,064 shares of company stock worth $1,782,775 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Guidewire Software by 4.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after acquiring an additional 79 shares in the last quarter. Partners Capital Investment Group LLP increased its stake in Guidewire Software by 2.9% in the 4th quarter. Partners Capital Investment Group LLP now owns 3,468 shares of the technology company’s stock worth $378,000 after purchasing an additional 99 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Guidewire Software by 1.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after buying an additional 116 shares during the period. CHICAGO TRUST Co NA lifted its stake in Guidewire Software by 4.8% during the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock valued at $392,000 after buying an additional 130 shares in the last quarter. Finally, Legacy Advisors LLC boosted its holdings in shares of Guidewire Software by 1.6% in the second quarter. Legacy Advisors LLC now owns 8,329 shares of the technology company’s stock worth $1,148,000 after buying an additional 135 shares during the period.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.